Research by SCM Direct finds investment platforms have been profiteering by taking a cut form client’ cash held on their platforms – to the tune of £1.3 billion a year.
Scandalous behaviour by #investment companies and platforms continues whilst @theFCA continues to fail to ensure customers are being treated fairly! Britain’s wealth managers on the ropes as their own shares plummet
SCM Direct’s Alan Miller pointed St James Place fee announcement is not that consumer-friendly. Existing clients will still be subject to charges as high as 6%. Only new clients joining from late 2025 will be immune. ‘SJP should bite the bullet, bin exit penalties for ALL clients now’
